ONTO Innovation
ONTO · NYSEMeasuring & Controlling Devices, NEC · Fiscal year ends Dec 26
ONTO Innovation reported revenue of $1B in the fiscal year ended Jan 2026, up 1.8% from the year before. Operating income was $133M, an operating margin of 13.2%, and net income was $137M. Operating cash flow of $328M less capital expenditure of $29M left free cash flow of $300M.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $789M | $1B | $816M | $987M | $1B |
| Cost of revenue | $360M | $466M | $396M | $472M | $505M |
| Gross profit | $429M | $539M | $420M | $515M | $500M |
| Research & development | $96M | $112M | $104M | $114M | $132M |
| Operating income | −$156M | $237M | $116M | $187M | $133M |
| Pre-tax income | −$156M | $242M | $133M | $220M | $163M |
| Income tax | $13M | $18M | $11M | $19M | $26M |
| Net income | $142M | $223M | $121M | $202M | $137M |
| Diluted EPS | 2.86 | 4.49 | 2.46 | 4.06 | 2.78 |
| Diluted shares | 50M | 50M | 49M | 50M | 49M |
Balance sheet
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $170M | $176M | $234M | $213M | $346M |
| Receivables | $177M | $241M | $227M | $308M | $269M |
| Inventory | $243M | $324M | $328M | $287M | $298M |
| Current assets | $948M | $1.1B | $1.3B | $1.5B | $1.3B |
| Net PP&E | $82M | $92M | $104M | $124M | $127M |
| Goodwill | $316M | $316M | $316M | $330M | $644M |
| Total assets | $1.6B | $1.8B | $1.9B | $2.1B | $2.4B |
| Payables | $53M | $55M | $50M | $56M | $108M |
| Deferred revenue | $30M | $30M | $25M | $34M | $32M |
| Current liabilities | $155M | $161M | $148M | $170M | $219M |
| Total liabilities | $224M | $198M | $173M | $191M | $267M |
| Shareholders' equity | $1.4B | $1.6B | $1.7B | $1.9B | $2.1B |
Cash flow
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $175M | $137M | $172M | $246M | $328M |
| Capital expenditure | $12M | $18M | $23M | $32M | $29M |
| Free cash flow | $163M | $118M | $149M | $214M | $300M |
| Depreciation & amortisation | $14M | $9M | $12M | $13M | $21M |
| Stock-based compensation | $20M | $24M | $26M | $29M | $28M |
| Acquisitions | $24M | $5M | $0 | $27M | $436M |
| Share buybacks | $0 | $65M | $3M | $25M | $75M |
Key ratios
| Fiscal year | Jan 2022 | Dec 2022 | Dec 2023 | Dec 2024 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 27.4% | −18.8% | 21.0% | 1.8% |
| Operating income growth (YoY) | – | – | −51.0% | 61.2% | −29.0% |
| EPS growth (YoY) | – | 57.0% | −45.2% | 65.0% | −31.5% |
| Gross margin | 54.4% | 53.6% | 51.5% | 52.2% | 49.7% |
| Operating margin | −19.8% | 23.5% | 14.2% | 19.0% | 13.2% |
| Net margin | 18.0% | 22.2% | 14.9% | 20.4% | 13.6% |
| Return on equityBlank when equity is negative | 10.0% | 14.0% | 7.0% | 10.5% | 6.5% |
| ROCEEBIT ÷ (assets − current liabilities) | −10.5% | 14.5% | 6.6% | 9.6% | 6.2% |
| Free cash flow margin | 20.7% | 11.8% | 18.3% | 21.7% | 29.8% |
| Cash conversion (CFO ÷ net income) | 1.23x | 0.61x | 1.42x | 1.22x | 2.40x |
| Receivable days | 82 | 88 | 101 | 114 | 98 |
| Inventory days | 247 | 254 | 302 | 222 | 215 |
| Payable days | 54 | 43 | 46 | 44 | 78 |
| Current ratio | 6.14x | 7.07x | 8.69x | 8.69x | 5.79x |
Recent filings
More in Measuring & Controlling Devices, Nec
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.